Cape Town Estate Agent Arrested For R5m Swindle

A 33-year-old woman, who works as a real estate agent in Cape Town, has been apprehended by detectives from the Western Cape commercial crimes unit.

The woman, whose identity is being withheld until her court appearance, is accused of defrauding her clients of a total of R5 million.

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According to Joseph Swartbooi, the investigating officer, the suspect allegedly deceived her victims by promising them high returns on their investments.

However, instead of investing the money as promised, she allegedly kept it for herself.

Swartbooi stated that multiple individuals invested more than R5 million between 2021 and 2022 in a real estate company where the suspect served as the sole director.

The funds were allegedly transferred directly into her personal bank account.

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The investigating officer is currently gathering evidence to build a strong case against the accused.

The woman’s trial is scheduled to take place at the Wynberg magistrate’s court.